Mini Budget - Big Savings!

Quick update on what the chancellor has announced today: 
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• SDLT 0% threshold increased to £500,000 (from £125,000) – immediate effect until 31/3/2021 - this also benefits people buying second homes and buy-to-let properties who will only pay the 3% additional stamp duty on the entire price.

 

• VAT reduction to 5% for hospitality, accommodation & attractions (tourism sector) until 12/1/2021.

 

• Job retention bonus - £1,000 bonus paid to employers for each employee brought back from furlough and paid at least £520 per month in Nov – Jan 2021.

 

• Kick start scheme - £6,500 payment to create NEW JOB employing 16-24 year old for 6 months  from August.

 

• Apprenticeships – payments to employers to create NEW apprenticeships (£2,000 each, £1,500 for 25+ age group).

 

• “eat out to help out” – AUGUST only - 50% off meals Mon – Wed (up to £10) – restaurants will claim discounts given online & get payment within 5 working days.

 

• Green homes grant – issue vouchers for up to 66% cost of energy efficient modifications – up to £5,000 per household or 100% for low income, up to £10,000.

If you have any questions please don't hesitate to contact us on [email protected]